***** WARNING ****** DO NOT SEND ANY (LARGE) SUMS TO COINBASE. $40,000 wire transfer missing since 12/18 with ZERO response

The question is- why would you ever trust this company? How do you not reach out to a customer who trusted you with this amount of money? Is this who you want to be dealing with if/ when the shit really hits the fan in the cryptocurrency space ? It is a total sham(e), I would have absolutely been a customer, and likely an active one long term. For all those who have had positive experiences with Coinbase- that's great, but don't assume it will not happen to you at some point, especially when liquidity goes to hell after a crash. If they can't help a newer customer willing to put in a large amount of funds, why will they help those who put in less. No, I did not deposit this amount without depositing a smaller amount first, which went through, so assumed the systems were fine, and hey worst case the wire is rejected …. WRONG. Don't assume it won't happen to you!! Yes I filed a CFPB and state Financial Institutions complaint. Yes I called a zillion times. Yes I did everything they instructed on their "customer support" site. Never in my wildest dreams did I think this could happen in this country. This company has reared its ugly face as a total fraud and/or perhaps a total Ponzi scheme. How in the world do you return other wires from 5 days ago before addressing ones from more than a month ago, never mind the amount! Let this be a warning to you all, I would not wish this on ANYONE.

ADDENDUM: I attempted to transfer to my GDAX account, but the wire goes through the associated Coinbase account, and shows up as a Coinbase deposit (had transferred funds before), hence the references to Coinbase.

submitted by /u/suasponte26
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Bitcoin – The Currency of the Internet

How to transfer Bitcoin from Coinbase for free!

I see many people are upset about Coinbase and their insane transfer fees so I thought I would make a simple instruction about how to transfer Bitcoin outta Coinbase for free. Lets get to it!

  1. Go to GDAX.com and log in with your Coinbase account. GDAX is owned by Coinbase, and it’s their platform for more technical people.

  2. After you logged in, verify your account if necessary.

  3. Press the “deposit” button and then deposit your Bitcoin from your Coinbase wallet. It’s free and takes only seconds.

  4. Press the “withdraw” button, then open the “BTC address” tab and put the address you wish to send your bitcoins to in there.

That’s it! You have sent your bitcoins to another address and avoided some serious fees.

Please upvote if you found this useful so more people can see it. 🙂

submitted by /u/agent9747
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Bitcoin – The Currency of the Internet

Kraken Lost My 60k USD Wire Transfer

I’m a reasonable person. I give people the benefit of the doubt but this situation has became super fishy.

We transferred 60k USD on the 24th of November and funds are still not showing in our Kraken account.

Their support team keeps saying the same thing over and over, asking for the same thing, over and over:

“Hi, Thank you for providing that information. Unfortunately, we are still unable to locate a deposit matching these details. Will you please attach a deposit slip or remittance receipt to assist in locating your funds? Best, Kraken Client Engagement”

Their website is broken as hell and now they are stealing our money? Did anybody have a similar situation with them?


After I created this post, finally things started to move. I have sent them the documents couple of times and they finally realized that was the case and decided to look properly into it. It seems it was a mistake from our part:


My apologies. I can see the information that you have already sent.

The one concern for me is the bank name and & country. You have written "Sumitomo Mitsui Banking Japan" but it should read "Sumitomo Mitsui Banking Corporation (SMBC)" and if they require the country in this field it could be added as well.

What I would suggest is to wait a few more days and if the funds do not arrive, they may be returned to you. If we both don't see the funds in a few business days I would suggest recalling the transaction. I'll check back on Wednesday and let you know. If you see the funds returned to you in the meantime please let me know.

We'll get to the bottom of this one way or another. Thanks for your patience.


Kraken Client Engagement"

Hopefully the funds will appear somewhere – either in our bank account or in our Kraken account – shortly.

Will keep you guys posted.


My bank just said that bank names won’t matter as swift updates it automatically – and we have provided the correct swift code – so it’s on you, Kraken!

submitted by /u/Al2019
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Bitcoin – The Currency of the Internet